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Buying A Home In The Spring

Buying a Home in the Spring

Spring and summer are the high season for buying a home: according to one estimate, about 40 percent of home sales happen from April through July. Spring is a great time to buy a home, because buyers can move in better weather, have months to fix up the house before the cold sets in, and can get kids settled before the school year begins.
However, those advantages also mean that spring can be a competitive time to house-hunt. It’s important to be prepared: Know what you want, what you’re willing to trade off and how much you can spend, and be ready to move quickly when you find the home you want.

buying a home in the spring

Set Your Budget for Buying a Home

First, decide how much house you can afford. Besides monthly mortgage payments, you must have enough money for a down payment, closing costs, moving and the initial expenses of living in the home, including things like new furniture and paint.
The Mortgage Bankers Association recommends that buyers spend no more than 2.5 times their income on a home. Total housing payments should not exceed 28 percent of your gross income, and total debt payments should be less than 36 percent. That means payments on all loans, including your mortgage, student loans, auto loans and credit card debt. Try our Home Affordability Calculator to do the math.

Determine Your Home Wants and Needs

Before setting out on your search for a home, determine your needs. Make a list of what you absolutely must have and what you would be willing to forgo. Research the neighborhoods that interest you. Check out the schools, the local services and the public facilities and speak to people on the street to get a feel for the area.

Choose a Good Real Estate Agent

Local agents offer information you can’t always find online or through property listings. Agents know the prices of recently sold properties, and many have a good handle on what a house is worth. A buyer’s agent will represent your interests; helping you find homes that fit your budget and list of requirements and helping you get the best deal.

Get Mortgage Loan Pre-Approval

Speak with several mortgage lenders, online and off, and choose the best rate and the most appropriate terms for your budget. The low rates that are available may not last indefinitely, so see if you can lock in all or part of the loan. Many lenders offer various plans for your monthly payments. With a mortgage loan pre-approval in hand, you’ll be ready to act quickly when you find a home you want to make an offer on.

Blog by Cina Coren

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If You Are Thinking Of Selling, Now Is The Time!

If You Are Thinking of Selling, Now Is The Time!

Jonathan Smoke, the Chief Economist of realtor.com, in a recent article revealed that:

“Would-be buyers face a dilemma: There will be more homes on the market over each week of the next three to four months, but there will also be even more prospective buyers. We are entering the busiest season of home buying with the lowest amount of inventory in three years. To be competitive, buyers should get pre-approved for a mortgage and be ready to act quickly if they find a home that meets their needs.”

spring is the time to sell

If you thought about selling your house this year, now may be the time to do it. The inventory of

homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in

high school when we learned the concept of supply and demand: the best time to sell something

is when supply of that item is low and demand for that item is high. That defines today’s real

estate market.

Smoke goes on to say:

“Listings are growing as they normally do this time of the year, but because demand has been growing faster than supply, homes are selling faster. So the monthly trend is the normal seasonal pattern, but the year-over-year decline is reflective of demand being stronger than supply for more than a year, which is resulting in fewer homes available and faster-moving inventory.”

In this type of market, a seller may hold a major negotiating advantage when it comes to price

and other aspects of the real estate transaction including the inspection, appraisal and financing

contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

Blog by: The KCM Crew

For information on how to sell your house FAST and for MORE contact The Joe Reed Team now.

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Change Is In The Air

Change Is In The Air

Change is definitely in the air early this year in Colorado. Being born and raised in Colorado, I have learned that our beautiful state and this industry can throw just about anything at us. The changes in Autumn make it my favorite season. Maybe that is one of the reasons I love Colorado and in particular, the Grand Valley.

I have always believed that while sometimes tough, change is good. One of my favorite quotes about change is, “Change is the essence of life. Be willing to surrender who you are for what you could become”. With that being said, we at The Joe Reed Team have had some changes that I would like to share with you. As you know we have always tried to provide the best support team to our agents and to you, our clients.

Kristie Clark has played a vital role in that but now has taken on a new role with our team. She is now the Buyer’s Coordinator for the team. We are very excited for her to bring her knowledge and spirit to another division of The Joe Reed Team.

I would also like to introduce Nicolle Lewis, our new Listing Coordinator. She is a tremendous asset to our team and we couldn’t be happier with where things sit for us as we move into the 4th Quarter.

I want to thank you for taking a moment to read our blog and we look forward to helping you, your friends and your family with all of their real estate needs.

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How to Sell Your Home Quickly Over the Holiday Season

How to Sell Your Home Quickly Over the Holiday Season
It’s tempting for many sellers to take a step back over the holiday season and wait to list their home until after the New Year. Some sellers may even pull their homes off the market temporarily to relist once the holidays are safely behind them.
This strategy works well for sellers who may have other obligations and can’t be as committed to the sale of their home during the holidays. Admittedly, there are many distractions – holiday parties, family obligations and an endless to-do list. But if you’re motivated to sell, staying focused during the holidays can really pay off.
The end of the year is typically a slower time of year for the real estate market. For motivated sellers, that means less competition. Once the New Year hits, there will likely be a flood of inventory from all those sellers who were holding off on listing their homes. Take advantage of the lack of inventory during this season to make your home stand out and attract your ideal buyer. The holiday season can present some unique opportunities to get your home sold quickly if you take the appropriate steps.
Price competitively. One sure way to make your home stand out against the competition is to price appropriately. The market is incredibly price sensitive. Even slightly over-pricing a home can result in lost momentum and extra days on the market. If your goal is to sell quickly, then over-pricing is not an option.
There may be fewer buyers actively looking on the market during the holidays, but more of these buyers will be serious prospects who are also making their home search a priority. Work with your listing agent to develop an appropriate pricing strategy that works for you and that will also catch the attention of potential buyers.
Make your home shine. Make sure your home is showing at its best. This is the golden rule no matter what time of year you’re listing your home, but it can be especially difficult over the holiday season. Out-of-town guests, holiday decorations and winter weather can all be challenges to getting your home in showing condition.
Holiday lighting, a fire crackling in the hearth, and festive decorations can make a home feel inviting and appealing but only if it’s been executed correctly. Think classic and minimal. Going overboard with holiday lawn ornaments, chotchkies or flashing, multi-colored lights could be a major distraction for buyers. Less is more.
Decorate strategically, get organized, and make a plan so you can easily and painlessly get your home ready for a last-minute showing request.
And if you’re putting your home on the market for the first time, you may want to hold off on the holiday decorations altogether, or remove them temporarily for the photo shoot. Second to price, excellent photography is one of the most important ways to make your home shine and to catch the eye of potential buyers.
A few extra pieces on the fireplace mantel or a garland on the banister can probably be overlooked in person, but it could stand out like a sore thumb in your property photos and distract buyers from noticing your home’s most impressive selling points.
Be flexible. The best way to sell your home during the holidays is to be flexible and make your home easy and available to show. This can be easier said than done, but it’s important to keep your end goals in mind. You’ve already gone through the work of getting your home ready to sell over the holidays, but if you don’t make your schedule flexible enough to get buyers in to see it, it will all be a wasted effort.
Buyers who are looking during the holiday season are often more serious and more motivated to buy and close quickly. Both buyers and sellers alike may take advantage of tax incentives for closing before the end of the year. Although, you should speak with your tax advisor regarding your individual tax situation.
Selling during the holidays also allows you to reach out-of-town buyers who may only be in town for a short time, house hunting during their vacation or in-between visiting family. Scheduling during the holidays can be difficult, so the more flexible you can be to get buyers in the door, the better the chance of a successful sale.
For serious sellers, listing your home over the holidays has its definite advantages. Less inventory means less competition and buyers who are searching over the holidays tend to be more motivated and willing to close fast.
Set yourself up for success to sell your home quickly over this holiday season. Price competitively to attract buyers, make your home shine (less is more), be flexible about scheduling so you can get potential buyers through the door and stay focused. Because, ultimately, what better way to start the New Year than with a fresh start and the successful sale of your home?
Blog by: Sally Forster Jones

http://realestate.usnews.com/real-estate/articles/how-to-sell-your-home-quickly-over-the-holiday-season/

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You Want To Buy or Sell, Now What?

You want to Buy or Sell – Now What?

 

After helping people buy and sell real estate for over 12 years, I hear all people tell me all the time that they didn’t know where to start, what to do, what not to do, and they were a little scared. I ask them, “Well how did you decide to call me” and they almost always say, “our friends used you or we saw you sell that house down the street” or something to that effect.

The Joe Reed Team

It started me to think, what does the person do who doesn’t know someone or is going to start this process alone?

So with the beginning of 2017 here I decided to give my advice to those individuals who need help starting the process of buying or selling.

If you are selling your home:

  1. ALWAYS make sure that the Realtor you are considering is a Realtor. Every agent is not a REALTOR®, but most   are. If you’re unsure, you can ask your agent if they’re a licensed REALTOR®.  REALTORS® are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics.  Some REALTORS® are brokers, while some are agents. Unfortunately, people use the term interchangeably: there are some differences.
  2. Interview more than one agent! I would suggest that you interview 3 agents. That way even if you go with the one you like the most from the get go, you will know that you made the right decision and won’t question, “what could have been”
  3. Ask questions! Don’t be shy to ask the tough questions. These are some of the ones I recommend.
  1.  How long have you been a Realtor?
  2.  Have you sold homes like mine previously?
  3.  What are your marketing strategies to help sell my home?
  4.  Are you a full time agent?
  5.  Does the agent communicate in a way that works for you? i.e. – texting, social media etc..

 

If you are Buying a home, here are some questions to ask your Buyers Agent

 

  1.  Are you a full time agent?
  2.  Is this agent able to show you homes in the time frames you need?
  3.  How long have they been an agent?
  4.  How strong of a negotiator is this agent?
  5.  What tools does this agent have to help you see a home before anyone else does?
  6.  Does the agent communicate in a way that works for you? i.e. – texting, social media etc..

Some additional questions you should ask are:

  1. Ask the agent why they like real estate. This one can really give you a good feel for if you have the right agent for you. You are going to be spending a lot of time with this person and so you want to have a good relationship with your agent.
  2. How many homes did you and your brokerage sell last year? This is important to know because you will learn how much experience they have as well as how familiar they are with the market.

 

These are just my recommendations on questions to ask, however, for more information please visit http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-sellers/questions-ask-when-choosing-realtor for more great questions and advise.

We at The Joe Reed Team are full time real estate team dedicated to excellence. We would love an opportunity to meet with you whether you are buying or selling or investing. Call us today at 970-270-7505, isit our website atwww.joereedteam.com, or catch up with us on social media.

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What makes a buyer fall in love?

What makes a buyer fall in love?

With Valentine’s Day now behind us, I started thinking about what truly moves people in real estate and what it is about a particular house that makes someone fall in love with it.

Some Buyers are kitchen people, some are outdoor people, some are theater people but are there things that are consistent across the board that make people fall in love with a home?

This article from Realtor.com has some ideas in it about what truly makes a Buyer fall in LOVE. It is a great read. http://www.realtor.com/advice/sell/love-at-first-sight-home-buyers/

The Buyers Agents here at The Joe Reed Team are not “ordinary agents” who send you properties from the MLS and wait for you to tell them if you like one. They are up early checking to see what has been listed over night, they are checking throughout the day for the perfect one to pop up and get you in before any other Buyers get a chance to see it. They are talking and networking with other agents about properties that are about to hit the market or that have recently expired and are no longer available to the public thru the internet or websites. They are previewing properties for you so that they don’t waste your precious time with properties that won’t work. Simply put, they just worked harder and smarter than most agents to ultimately get you thru the front door of the house that you are going to fall in love with.

Call us today at 970-270-7505 or visit our website www.thejoereedteam.com to get to know Adam, Chad or Cody and have them help you find the perfect home to fall in love with. 

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How to Find a Good Real Estate Agent and What to Expect from Them

Are you a beginner in real estate business? Do you want to make your first property purchase however you’re not sure how to get a good agent and you don’t know what to expect from them? If you find yourself in this kind of situations, read on and you’ll definitely find the right real estate agent for you.

If you have been thinking about real estate investment, today would be a great time. The interest rates are adjusted at historic lows and the process all around the country have already fallen at 2002 levels in numerous places. The question however is, how to find a good real estate agent and what should you expect from them.

First and foremost, you should consider finding an agent through referrals. You can have it from your friends, your colleagues and other professionals whom had worked with that agent in the past that can vouch their responsiveness and integrity. After all, the one you will hire will represent you in one of the biggest decision and investment you’ll make in your life so make sure that they are very trustworthy and they consider your interest as their first priority. Another thing to consider is to visit the local open houses within your area and speak with the present agents that are working with them. This will make you feel how really busy they are based from the number of homes in their list for sale. Also, you are able to get a chance to speak in a very informal setting with an agent to find out how personable and knowledgeable they are.

Once you have already identified your potential candidate in real estate agent, you should interview them first either in person or through the phone. You should consider asking them some things like their term in the business, the products and areas they specialize most, and 2-3 names of their satisfied clients. Remember that the first impressions go a long way. Ensure that they have a strong follow up and they are always right on time. After all, if they cannot get it right for you, you investment will surely go to nothing but waste.

Now that you have selected your real estate agent, you should give him clear parameters of what you are really looking for in order to give them the idea and choose the best. Consider answering this questions and these are things you should tell to your agent:

Is this your first real estate investment?

How much money you are willing to invest in this kind of business?

How much distance from your home you’re willing to consider?

What is the most comfortable and best price range you want for you?

Remember that a real estate business is just like most of the other service businesses. Only 20% of the agents will do 80% of the business. Take your time before getting started in finding the best agent from you to ensure that you’ll get the best deals in real estate business.

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Real Estate Truths to Know When Purchasing a House

Because the real estate market is diverse, wide and has an ever-changing environment, you need to learn it before you enter the playing field. There can be some mishaps and glitches that may occur in your real estate transaction if you are not careful enough. Knowing the genuine real estate facts that will be making the process of your home buying simpler and smoother.

The most significant thing that you need to do before you start looking for a new house is by getting a pre-approval from your leader. This will involve the lender that is going through your assets, income and credit history. The sellers will be requiring pre-approval to even start the buying process, so you have to make sure that you get it done. Also, money should be arranged. Even if you will be taking a mortgage in financing the purchase, you have to ensure that you have enough money to use for partial payment and some other expenses such as home maintenance and closing cost after you own the house.

You need to always be budget conscious. Lookout for what your budget is allowing you to buy and not the other way around. Hoping that a certain low-priced offer will actually be getting you the house is just a wishful thinking since the sellers won’t usually go below what they have been asking for. Also, knowing the market is really important. Each locality has its uniquely own real estate market that is following different price patterns. You need to familiarize yourself with your local market and analyze carefully the property average price and price trends before you go in the purchase.

Another real estate truth when buying a house is that too much expenditure will never be a good idea. The expenses in getting a new house will go out usually of hand, leaving the buyer to be debt ridden. In order to avoid such a situation, you have to spend your money really careful and you need to make sure that you won’t buy any luxury items until you are financially stable. Price rigidity will led to missed opportunity. This does not necessarily mean to overshoot your budget. Instead, it is alright for you to generously spend on your dream house for it is a long term commitment. To shell out extra for a house that you would really like is not that big as an issue and nothing must stop you from buying it.

Second hand homes will be requiring a repair. If you go in for a home that has been used already, you need to always expect some repair work that will be waiting for you, as soon as you have acquired the property. Damages that are small are natural and the seller will not be bothered to repair them as they know that they will leave soon. Purchasing a new house could be a tricky process, most especially for first time buyers who are quite unaware of some intricacies in the process of buying and selling. Thus, to ensure that you have all the information that you may be needing is a prerequisite.

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When to Hire a Pro vs. Doing it Yourself

Much like choosing a good real estate broker or home inspector, the decision to hire help when fixing up a house can save you a lot of time and frustration then by doing the work yourself. Some people are very hands-on and prefer to fix things themselves, while most are either too inexperienced or too overwhelmed to attempt DIY-jobs.

 

If you’re facing an upcoming item on the old “honey-do” list but aren’t sure whether you want to tackle it yourself or hire a professional, there are a few questions you should be asking yourself.

 

First of all, what is the scope of the project? Is it something as simple as painting a room or a more daunting task like replacing a water heater? If it’s something easy that doesn’t require a whole lot of technical know-how, you could probably do it yourself, save some money, and learn a new skill.

 

Are you comfortable enough to do it yourself? How familiar are you with the problem/solution? A great way to figure out if you’ll be comfortable on your own is to search the internet for YouTube videos, technical writings, and how-to guides for the specific issue you’re facing. Once you’ve seen what it takes to do it yourself, you’ll have a much better idea about whether you want to hit it head-on or hire a pro.

 

What are the cost savings if you do it yourself? Don’t overlook any tools or materials you’ll have to purchase to get the job done, as well as time. Time is the most valuable commodity because it’s something you don’t get back, so if it’s worth it to you to spend a few more bucks to have someone else do it, use the time you’ll save on something a lot more fun.

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What is an HOA and Where is My Money Actually Going?

When you purchase a property in Grand Junction that is governed by a homeowner’s association (HOA) you are paying a mandatory fee monthly, quarterly, or annually. Depending on how upscale (i.e. expensive) the properties in the community are, fees can range anywhere from $100-400/month.

 

HOA fees typically get funneled into maintaining communal areas like parks, greenbelts, pools, landscaping, and sidewalks. One of the major positives to living in an HOA-controlled community is that homeowners’ property values and quality of life are protected.

 

However, there are certainly negatives to living in an HOA community. For instance, if you consider yourself a big fan of the color pink and decide you want to paint your house that color, you have to ask permission from the HOA before you paint and if pink isn’t an approved color, tough luck. Many residents dislike HOAs because they feel that they are being patrolled and harassed constantly about maintaining their yards and home exteriors.

 

In addition to funding communal projects and upkeep, HOA’s also have a set of rules, or covenants, that residents must abide. These rules can include what colors you are allowed to paint your front door, house exterior, what types of basketball hoops you are allowed to display, what kind of trees you can plant, and the list goes on. If you consider yourself a lone ranger type that doesn’t like to be told what to do, perhaps an HOA community is not for you.

 

Before purchasing a home in this type of community, make sure you know the HOA’s rules and that they home(s) you want to purchase are not already breaking any of those rules. Consider how you will feel when the HOA tells you to tear down that beautiful new shed you built because it isn’t allowed per the covenant. Asking questions now will save you from potential headaches in the future.